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BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 138]
Bain Capital sitting on 10% gain after Metroglass stake
Wednesday, 28 November 2018, 4:23 pm | BusinessDesk
US private equity firm Bain Capital is sitting on a 10 percent paper gain a day after buying a stake in struggling glass products maker Metro Performance Glass. More >>
'Keep the buggers honest' lawyer joins law society battle
Wednesday, 28 November 2018, 3:16 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Gary Gotlieb, one of the country’s more tenacious criminal defence lawyers, has joined the fight to stop the Auckland District Law Society selling its historic inner-city building. More >>
Evolve shares fall on $32 mln write-down
Wednesday, 28 November 2018, 2:33 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Evolve Education Group shares fell 5 percent after the company wrote $32.1 million off the value of its child activity centres, announced the sale of two businesses and lowered its earnings forecast for the full year. More >>
Asset Plus lifts 1H profit 33% but rental income down
Wednesday, 28 November 2018, 1:27 pm | BusinessDesk
Asset Plus, formerly known as NPT, reported a 33 percent lift in first-half profit, despite a fall in rental income as the property investor overhauls its portfolio. More >>
Tower pushes out dividend resumption to 2019
Wednesday, 28 November 2018, 1:22 pm | BusinessDesk
Tower won't pay a dividend this year as planned as the cost of covering wild weather claims across the Pacific and a settlement with its reinsurer kept the firm in the red. More >>
RBNZ says banking system risks have eased, loosens LVRs
Wednesday, 28 November 2018, 12:41 pm | BusinessDesk
Nov. 28 (BusinessDesk) - As widely expected, the Reserve Bank has further eased its loan-to-valuation restrictions on banks’ mortgage lending and the central bank said the risks to the country's financial system have eased in the last six months. More >>
Ike halves 1H loss, reiterates full-year guidance
Wednesday, 28 November 2018, 12:31 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Utilities measurement specialist IkeGPS said it remains on track to break-even at the operating level in the fourth quarter after lifting sales and halving its first-half loss. More >>
NZ dollar gains as Fed's Clarida backs gradual US rate hikes
Wednesday, 28 November 2018, 11:41 am | BusinessDesk
Nov. 28 (BusinessDesk) - The New Zealand dollar gained as Federal Reserve vice chair Richard Clarida backed the central bank's gradual approach to raising interest rates, and ahead of the Reserve Bank's six-monthly report on financial stability. More >>
MARKET CLOSE: NZ shares rise as upbeat Wall St bolsters A2
Tuesday, 27 November 2018, 8:50 pm | BusinessDesk
Nov. 27 (BusinessDesk) - New Zealand shares followed Wall Street higher as global events remain top of mind for investors, underpinning growth stock A2 Milk Co and blue-chip firms such as Spark New Zealand and Fletcher Building. More >>
Infratil tries to gee up Tilt acceptances
Tuesday, 27 November 2018, 8:33 pm | BusinessDesk
Nov. 27 (BusinessDesk) - With three days to go before its takeover offer for Tilt Renewables expires, Infratil says full privatisation is “almost inevitable” now that it owns 85 percent of the company. More >>
NZ dollar weakens on disappointing domestic trade data
Tuesday, 27 November 2018, 8:32 pm | BusinessDesk
Nov. 27 (BusinessDesk) - The New Zealand dollar is slightly weaker against the greenback after disappointing domestic trade data and after US President Donald Trump dampened hopes of an early resolution to the US-China trade dispute. More >>
ComCom looks closer at port pricing
Tuesday, 27 November 2018, 8:31 pm | BusinessDesk
Nov. 27 (BusinessDesk) - The Commerce Commission is taking a look at the nation's ports after receiving complaints that some of the maritime hubs are taking advantage of their market power. More >>
Fonterra executive Paravicini to leave in January
Tuesday, 27 November 2018, 7:34 pm | BusinessDesk
Nov. 27 (BusinessDesk) - Fonterra Cooperative Group's chief operating officer of the consumer and food service division, Lukas Paravicini, will leave the country's dominant dairy company in January. More >>
UPDATE: WEL Networks doubles 1H profit
Tuesday, 27 November 2018, 7:33 pm | BusinessDesk
Nov. 27 (BusinessDesk) - WEL Networks almost doubled its first-half profit as expansion of its fibre business boosted revenue and growth in Waikato increased residential connections and commercial volumes. More >>
Labour concessions secure NZ First support for law changes
Tuesday, 27 November 2018, 4:49 pm | BusinessDesk
Labour has made two key concessions to employment law reforms to secure the support of coalition partner New Zealand First. More >>
Turners shares tumble 7.4% on possible profit downgrade
Tuesday, 27 November 2018, 4:40 pm | BusinessDesk
Shares in Turners Automotive Group fell as much as 7.4 percent after it warned market conditions have deteriorated markedly. More >>
Who’s telling porkies about car sales?
Tuesday, 27 November 2018, 3:27 pm | BusinessDesk
Nov. 27 (BusinessDesk) - Turners Automotive Group says it had a dreadful October and, that if those conditions continue, its annual pre-tax profit could be down 5-10 percent on its guidance. More >>
NZ October trade deficit wider than expected
Tuesday, 27 November 2018, 2:46 pm | BusinessDesk
Nov. 27 (BusinessDesk) - Imports into New Zealand topped $6 billion for the first time in October with goods from China rising a record amount as the two nations mark 10 years of free trade. More >>
WEL Networks doubles 1H profit
Tuesday, 27 November 2018, 2:42 pm | BusinessDesk
Nov. 27 (BusinessDesk) - WEL Networks almost doubled its first-half profit as expansion of its fibre business boosted revenue and growth in Waikato increased residential connections and commercial volumes. More >>
Green Cross Health in talks over pay equity deal
Tuesday, 27 November 2018, 1:04 pm | BusinessDesk
Green Cross Health is still in talks with district health boards and the Ministry of Health over the pay equity settlement which has left it underfunded and facing a bigger leave liability. More >>
